French telecommunications company Iliad has dropped its bid for a majority stake in T-Mobile US after an improved offer was rejected by the U.S. carriers’ majority owner Deutsche Telekom.

Iliad said it had put an end to its plan “following exchanges with Deutsche Telekom and selected board members of T-Mobile US who have refused to entertain its new offer.”

A wired and wireless operator, Iliad is known for its aggressive pricing and offers, an image that T-Mobile, the fourth largest cellular carrier in the U.S., has also acquired by doing away with service contract lock-in and unbundling annual service contracts from handset sales.

In July, Iliad said it had offered US$15 billion in cash for a 56.6 percent stake, at $33 a share, in T-Mobile. The bid priced the U.S. operator at $36.2 per share, up 42 percent over T-Mobile’s closing share price on Dec. 12, before speculation about a Sprint bid affected the price, Iliad said.

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